And in a speech at the World Economic Forum in Davos on Wednesday, Trump hit out at Canadian prime minister Mark Carney and said Canada “lives because of the United States” as he directly criticized a slew of allies including France and the United Kingdom.
Economic unease spells bad news for the housing market
US Treasury yields climbed and the stock market slid at the beginning of the week as fears rose of potential US military action in Greenland, recovering slightly on Wednesday after the president ruled out that prospect.
But fresh economic uncertainty and escalating tensions with the US are unlikely to spell good news for the Canadian housing market in 2026, even with some market watchers hopeful of a better year ahead.
The outlook now appears eerily similar to the same time last year, when the threat of huge US tariffs on Canada torpedoed hopes of a housing market uptick.
“Last year, we went into the year thinking that the market was going to move up and then everything south of the border contributed to dampening that growth and making the forecast not really as strong as we hoped it would be,” Joel Fox (pictured top), co-founder and COO of Ownright, told Canadian Mortgage Professional.